By type, sales were flat compared to the prior month for condos and co-ops and down 2.0% for single-family homes. On a year-ago basis, sales were up 1.6% for condos and co-ops and 0.6% for single-family homes. Prices were up 6.6% for single-family homes and 6.5% for condos and co-ops.
Sales fell in June despite a decline in mortgage rates. On Wednesday, the Federal Reserve is expected to provide more details on the plan to reduce its balance sheet, which could push mortgage rates higher. The real estate market would be well advised to tune in.